0% fee mining SWITCH NOW
It is the officially recommended way to mine Monero! Here are seven easy steps:
- 1) Download the bundled version of Gupax examples:
windows file: gupax-v1.3.1-windows-x64-bundle.zip
macOs file: gupax-v1.3.1-macos-x64-bundle.tar.gz
- 2) Extract
- 3) Launch Gupax
- 4) Input your Monero address in the P2Pool tab (or create a new one for mining)
- 5) Select a Remote Monero Node (or run your own local Monero Node)
- 6) Start P2Pool
- 7) Start XMRig
Motivation: The hashrate of centralized pools increases; so: miners update the mining software and/or start new workers, but do not change their used pool to p2pool. p2pool should be used in general because it is the best technology and:
- 0% fee
- 0 XMR payout fee
- ~0.00027 XMR minimal payout
Maybe an monero.town OP can pin this. It’s important.
Could you please elaborate on what you mean by that?
How can a mining pool be sustainable without a operating fee?
P2pool is a decentralized mining pool controlled by nobody. People run a p2pool node and mine a sidechain that is compatible with the Monero chain. When a valid block is found on the sidechain, it’s broadcasted and everyone in the pool is paid their share.
It has other cool benefits, for example if 51% of the hashrate was on p2pool, 51% attacks through regula centralized pools colluding would become impossible.
still, this contribution on monero.town gets many down-votes? Disappointing. At least now I got an idea why p2pool is so underused. I guess there are a lot of people involved in centralized pools? I have made an effort to make this post appealing.
I have noticed this as well. Those profiting from centralized pool are really scared of p2pool catching on big.
Once the communists start forcing pools to KYC we will see p2pool boom.
Thanks for confirming. Once the operators of large pools have established themselves over many years, they are not so easy to do away with. That is understandable and they are part of the history of the network.
Maybe large pools can even pass the shares to P2pool? The big official centralized XMR pool, supportXMR, could perhaps introduce this? If this is not possible, at least there could be a notice on the pool page that p2pool is recommended.
The centralized pools will never support something that takes their revenue away.
All the more reason to avoid those megapools.
100%
@jet @monerobull how can monero network be sustainable without an operating fee?
Because—at least partially—it’s community-based: grass root users maintain it, not for profitability but for philosophy, experiments, or some kind of idealism, happily running full nodes, while fully aware that running cost may be higher.
For sustainability of Monero, the main issue could be regulation pressure (and potentially, the existence of big, influential “players” who are very visible and harder to “hide”). That aside, users are generally willing to donate hashrates and make donations in general. I’m afraid this might not scale well, though, if Monero becomes too popular, with a lot of “free riders” (that’s a different problem, so far not realistic).